CTM

2.38%

43.0¢ centaurus metals limited

I would add be careful of time frames for conversion I did an...

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JDR5

1,026 Posts.

35

08/03/18

16:51

Post #: 31626424
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Originally posted by ptlas ↑

So you've done something dumb. Welcome to the club, I'm a lifelong member. I could write a series of books on how not to trade the ASX. All based on personal experience.

So now, how to get out? This is not advice, but what I would probably do, assuming that you don't want to hold hoping for a big spike on which to sell. That is still an option. Think it through, no need to panic.

Convert, (strike 1c) and sell at 1.2c. Nothing lost and a cheap lesson learned for the cost of brokerage.

Now assuming that you possibly don't have enough of the folding stuff to convert all in one go, then you could convert some, sell them (presumably at 1.2c) and use the proceeds to repeat the process a number of times. You may even be lucky and gain from a rising sp.
If the share price rises, then OAs may also. In which case sell OAs

My understanding, and I'm happy to be corrected by others, is that from paying the conversion to having the sale funds in your account will be about 1 week. Assuming, of course, that the heads don't linger on the offer. That is a risk.
Then again, you could sell some and hold the remainder. It's far from impossible that CTM runs in the next month.

A general point about trading. Since this dumb rs learned not to try and squeeze the maximum out of every trade, he has found trades are both shorter and more profitable. Consequently, they are much less stressful.
After each trade, and looking back a couple of months later, I try to write down a lesson specific to that trade. It frequently ends "Don't be greedy".
I would respectfully suggest that trading OAs right now is being greedy due to the fast approaching 30 April deadline.

Slow and steady...

Hope it helps and you don't feel patronised.

Would be interested to know how it works out. Tag me if you wanna say.

pt

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I would add be careful of time frames for conversion I did an option conversion on another stock and the company and registry completely stuffed it took a month ! and I missed a large multi bag ... the company secretary called to say sorry but a tad too late.

CTM Price at posting: 1.2¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 43.0¢		Change 0.010(2.38%)		Mkt cap ! $213.3M

Open	High	Low	Value	Volume
42.5¢	45.0¢	42.5¢	$1.171M	2.721M

Buyers (Bids)

No.	Vol.	Price($)
1	5699	43.0¢

Sellers (Offers)

Price($)	Vol.	No.
45.0¢	51840	4

View Market Depth

No.	Vol.	Price($)
1	5699	0.430
1	11857	0.420
3	39317	0.410
2	13000	0.405
10	109500	0.400

Price($)	Vol.	No.
0.450	35000	2
0.460	17825	3
0.465	7000	1
0.480	92246	3
0.485	1105	1

Last trade - 16.10pm 28/06/2024 (20 minute delay)

CTM (ASX) Chart

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